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While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis

The retirement crisis facing America-and the road map for a way out-from The New York Times bestselling author of Origins of the Crash In the last several decades, corporations and local governments made ruinous pension and healthcare promises to American workers. With these now coming due, they threaten to destroy twenty-first- century America's hopes for a comfortable retirement. With his trademark narrative panache, bestselling author Roger Lowenstein analyzes three fascinating case studies-General Motors, the New York City subway system, and the city of San Diego-each an object lesson and a compelling historical saga that illuminates how the pension crisis developed. Cumulative retirement deficits are approaching $1 trillion, and Lowenstein warns that these are only the first. Retirement pensions will continue to be a critical issue as the country ages, and While America Aged is the urgent call to action and prescription for reform.

Product details

• Hardcover : 199 pages


• Title : While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis


• Language : English


• ISBN-10 : 143115383

 

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While America Aged: How Pension Debts Ruined General
While America Aged is a good history of the pension crisis and would be a good compliment to Dora L. Costa's The Evolution of Retirement. The root of the problem is that the pension and health bills are paid by future generations but the benefits are enjoyed today by the current workers who receive payment, the current tax payers who temporarily dodge payment, and the current politicians that can take credit.
While America Aged: How Pension Debts Ruined General
While America Aged (2008) by Roger Lowenstein is a fascinating study of the disastrous nature of American pensions. The fiasco of many companies pension schemes and of the incredible story of local government pensions makes for a very interesting tale of the enormous problems facing the US as the population ages and people have longer retirements.
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Book title: While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis
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